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RMI final exam review With Questions And 100% ALL SURE ANSWERS
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JACKLINERMI final exam review With Questions And 100% ALL SURE ANSWERS
Terms in this set (120)
All of the following insurance contracts would be annunites
considered short-term except?
Auto
Health
Homeowner's
Annuities
Given the following data: written premiums = $100, 30/100 = 0.30
loss reserves = 45, underwriting expenses incurred
= 30, unearned premium reserves = 25, losses +
loss adjustment expenses incurred = 60, earned
premiums = 90, surplus = 50, what is the value of
the expense ratio?
30/50=0.60
(30+60)/100=0.90
30/90=0.33
30/100=0.30
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,RMI final exam review
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, Gene has a need for insurance that is unavailable A surplus lines broker
in the state where he lives. To obtain insurance in
the nonadmitted market, Gene should see
A nonadmitted agent
A general agency broker
A direct writer
A surplus lines broker
The right of the states to regulate the business of McCarran-Ferguson Act
insurance was first established by:
Paul v. Virginia
The South-Eastern Underwriters Association case
The Sherman Act
McCarran-Ferguson Act
Given the following data: written premiums = $100, 60/90= 0.67
loss reserves = 45, underwriting expenses incurred
= 30, unearned premium reserves = 25, losses +
loss adjustment expenses incurred = 60, earned
premiums = 90, surplus = 50, what is the value of
the loss ratio?
45/100=0.45
60/90=0.67
60/100=0.60
45/90=0.50
Which of the following is a principle method of Calculation of risk-based capital standards for insurers
ensuring the solvency of insurers?
None of the other answers are correct
Calculation of risk-based capital standards for
insurers
Disciplining agents of the insurer for illegal sales
practices
Regulating the forms (applications and policies)
employed by the insurer
Tracking and investigating market conduct
complaints against insurers
RMI final exam review
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